Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

SUPPLEMENTAL INFORMATION

The tables below provide supplemental consolidating financial information, other financial information, and U.S. sales by type. Company excluding Ford Credit includes our Automotive and Mobility reportable segments, Corporate Other, Interest on Debt, and Special Items. Eliminations, where presented, primarily represent eliminations of intersegment transactions and deferred tax netting.

Selected Cash Flow Information. The following tables provide supplemental cash flow information (in millions):


	For the period ended June 30, 2022
	First Half
Cash flows from operating activities	Company excluding Ford Credit		Ford Credit		Eliminations		Consolidated
Net income/(loss)	$	(4,164)	$	1,683	$	—	$	(2,481)
Depreciation and tooling amortization	2,691		1,083		—		3,774
Other amortization	54		(662)		—		(608)
Provision for/(Benefit from) credit and insurance losses	11		(118)		—		(107)
Pension and OPEB expense/(income)	(400)		—		—		(400)
Equity method investment dividends received in excess of (earnings)/losses and impairments	171		—		—		171
Foreign currency adjustments	(69)		129		—		60
Net realized and unrealized (gains)/losses on cash equivalents, marketable securities, and other investments	7,908		66		—		7,974
Net (gain)/loss on changes in investments in affiliates	145		1		—		146
Stock compensation	165		5		—		170
Provision for/(Benefit from) deferred income taxes	(1,352)		192		—		(1,160)
Decrease/(Increase) in finance receivables (wholesale and other)	—		(4,611)		—		(4,611)
Decrease/(Increase) in intersegment receivables/payables	16		(16)		—		—
Decrease/(Increase) in accounts receivable and other assets	(1,720)		(136)		—		(1,856)
Decrease/(Increase) in inventory	(2,507)		—		—		(2,507)
Increase/(Decrease) in accounts payable and accrued and other liabilities	3,131		49		—		3,180
Other	443		(325)		—		118
Interest supplements and residual value support to Ford Credit	(901)		901		—		—
Net cash provided by/(used in) operating activities	$	3,622	$	(1,759)	$	—	$	1,863


Cash flows from investing activities	Company excluding Ford Credit		Ford Credit		Eliminations		Consolidated
Capital spending	$	(3,046)	$	(23)	$	—	$	(3,069)
Acquisitions of finance receivables and operating leases	—		(20,749)		—		(20,749)
Collections of finance receivables and operating leases	—		24,139		—		24,139

Purchases of marketable and other investments	(5,382)		(2,683)		—		(8,065)
Sales and maturities of marketable securities and other investments	8,651		2,606		—		11,257
Settlements of derivatives	28		128		—		156
Other	471		2		—		473
Investing activity (to)/from other segments	1,631		(66)		(1,565)		—
Net cash provided by/(used in) investing activities	$	2,353	$	3,354	$	(1,565)	$	4,142


Cash flows from financing activities	Company excluding Ford Credit		Ford Credit		Eliminations		Consolidated
Cash payments for dividends and dividend equivalents	$	(807)	$	—	$	—	$	(807)
Purchases of common stock	—		—		—		—
Net changes in short-term debt	832		(237)		—		595
Proceeds from issuance of long-term debt	944		17,924		—		18,868
Payments of long-term debt	(2,608)		(22,089)		—		(24,697)
Other	(150)		(49)		—		(199)
Financing activity to/(from) other segments	35		(1,600)		1,565		—
Net cash provided by/(used in) financing activities	$	(1,754)	$	(6,051)	$	1,565	$	(6,240)

Effect of exchange rate changes on cash, cash equivalents, and restricted cash	$	(139)	$	(229)	$	—	$	(368)

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

Selected Income Statement Information. The following table provides supplemental income statement information (in millions):


	For the period ended June 30, 2022
	Second Quarter
	Company excluding Ford Credit		Ford Credit		Consolidated
Revenues	$	37,934	$	2,256	$	40,190
Total costs and expenses	35,950		1,372		37,322
Operating income/(loss)	1,984		884		2,868
Interest expense on Company debt excluding Ford Credit	312		—		312
Other income/(loss), net	(1,874)		51		(1,823)
Equity in net income/(loss) of affiliated companies	54		4		58
Income/(Loss) before income taxes	(148)		939		791
Provision for/(Benefit from) income taxes	54		99		153
Net income/(loss)	(202)		840		638
Less: Income/(Loss) attributable to noncontrolling interests	(29)		—		(29)
Net income/(loss) attributable to Ford Motor Company	$	(173)	$	840	$	667

	For the period ended June 30, 2022
	First Half
	Company excluding Ford Credit		Ford Credit		Consolidated
Revenues	$	70,129	$	4,537	$	74,666
Total costs and expenses	67,726		2,729		70,455
Operating income/(loss)	2,403		1,808		4,211
Interest expense on Company debt excluding Ford Credit	620		—		620
Other income/(loss), net	(6,722)		49		(6,673)
Equity in net income/(loss) of affiliated companies	15		10		25
Income/(Loss) before income taxes	(4,924)		1,867		(3,057)
Provision for/(Benefit from) income taxes	(760)		184		(576)
Net income/(loss)	(4,164)		1,683		(2,481)
Less: Income/(Loss) attributable to noncontrolling interests	(38)		—		(38)
Net income/(loss) attributable to Ford Motor Company	$	(4,126)	$	1,683	$	(2,443)

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

Selected Balance Sheet Information. The following tables provide supplemental balance sheet information (in millions):


	June 30, 2022
Assets	Company excluding Ford Credit		Ford Credit		Eliminations		Consolidated
Cash and cash equivalents	$	13,218	$	6,298	$	—	$	19,516
Marketable securities	14,998		2,186		—		17,184
Ford Credit finance receivables, net	—		30,716		—		30,716
Trade and other receivables, net	3,953		11,084		—		15,037
Inventories	13,976		—		—		13,976
Assets held for sale	705		—		—		705
Other assets	2,475		860		—		3,335
Receivable from other segments	83		1,232		(1,315)		—
Total current assets	49,408		52,376		(1,315)		100,469

Ford Credit finance receivables, net	—		49,743		—		49,743
Net investment in operating leases	1,125		23,408		—		24,533
Net property	35,942		220		—		36,162
Equity in net assets of affiliated companies	4,074		122		—		4,196
Deferred income taxes	14,819		216		10		15,045
Other assets	14,215		1,392		—		15,607
Receivable from other segments	—		16		(16)		—
Total assets	$	119,583	$	127,493	$	(1,321)	$	245,755


Liabilities	Company excluding Ford Credit		Ford Credit		Eliminations		Consolidated
Payables	$	22,242	$	1,136	$	—	$	23,378
Other liabilities and deferred revenue	17,207		1,688		—		18,895
Debt payable within one year	1,533		42,286		—		43,819
Liabilities held for sale	360		—		—		360
Payable to other segments	1,315		—		(1,315)		—
Total current liabilities	42,657		45,110		(1,315)		86,452

Other liabilities and deferred revenue	25,871		2,350		—		28,221
Long-term debt	17,833		67,175		—		85,008
Deferred income taxes	942		885		10		1,837
Payable to other segments	16		—		(16)		—
Total liabilities	$	87,319	$	115,520	$	(1,321)	$	201,518

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations (Continued)

Selected Other Information.

Equity. At June 30, 2022, total equity attributable to Ford was $44.2 billion, a decrease of $4.3 billion compared with December 31, 2021. The detail for this change is shown below (in billions):


	Increase/ (Decrease)
Net income/(loss)	$	(2.4)
Shareholder distributions	(0.8)
Other comprehensive income/(loss), net	(1.1)
Total	$	(4.3)

U.S. Sales by Type. The following table shows second quarter 2022 U.S. sales volume and U.S. wholesales segregated by truck, SUV, and car sales. U.S. sales volume reflects transactions with (i) retail and fleet customers (as reported by dealers), (ii) governments, and (iii) Ford management. U.S. wholesales reflect sales to dealers.


	U.S. Sales	U.S. Wholesales
Trucks	234,186	278,029
SUVs	237,222	228,527
Cars	12,280	10,882
Total Vehicles	483,688	517,438

ACCOUNTING STANDARDS ISSUED BUT NOT YET ADOPTED

For a discussion of recent accounting standards, see Note 2 of the Notes to the Financial Statements.

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